DICK'S Sporting Goods, Inc. DKS

The business

DICK'S sells the soccer cleat, the Yeti cooler and the set of irons out of 888 large-format stores, and it does it well enough that the vendors who matter give it allocation. House of Sport, the oversized format with the climbing wall and the batting cage, is the growth vehicle. GameChanger, the youth sports scoring app, is the quiet software business inside a retailer.

In September 2025 it bought Foot Locker: 2,561 stores selling sneakers in malls in North America, Europe and Asia, a business whose economics depend on a small number of launch products from one dominant supplier arriving on schedule and selling out. That is not the same business as DICK'S. It is a narrower, more fashion-exposed version of it, and this quarter is the first time the difference showed up in a segment table.